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प्रश्न
Why is a monopolist called a price maker?
पर्याय
Because buyers decide the price
Because government fixes the price
Because the monopolist controls supply and can influence price
Because price is always equal to marginal cost
MCQ
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उत्तर
Because the monopolist controls supply and can influence price
Explanation:
The monopolist chooses the level of output and thereby influences the market price instead of taking it as given.
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